In the meantime, the profits it earned from selling film have dried up. "The results are they're very close to bankruptcy now." "A lot of it is depending on execution, and it just was not that well-executed," Sethre says. But it was never really able to capitalize on the product it had invented, and its digital strategy was a bust, says Rob Sethre of the consulting firm Photizo. Over the years, Kodak has tried to jump on the digital bandwagon, making and selling digital cameras and other products of its own. "That first digital camera was actually 13 pounds and recorded images on a tape drive, so it wasn't exactly very portable," says Willy Shih, a former Kodak executive who now teaches at Harvard Business School. Kodak is trying to move into new product lines like inkjet printers, but in the meantime it's attempting to raise cash by selling off some of the patents it's developed over the years.ĭuring its heyday, Kodak had one of the most innovative research departments in the world, and in 1975 it developed the digital camera - a product that would eventually be its undoing. The company has seen its profits plunge in recent years, largely because of the popularity of digital cameras. Kodak, based in Rochester, N.Y., could be headed into bankruptcy over the next few weeks. The end could soon be near for Kodak, and the iconic film manufacturer may have itself to blame.
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